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You are holding a procurement auction for companies to bid to redesign your corporate office. There are two bidders who privately know the cost of

You are holding a procurement auction for companies to bid to redesign your corporate office. There are two bidders who privately know the cost of the project to themselves. The first can complete the task at a cost of $800K. The cost to the second company is either $700K or $900K, but you are not sure of the relative probabilities. All you know is that each of the two figures is possible

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